Approval times fall 18% year-on-year as more than 3,800 LMG brokers adopt AI tools
Loan approval times for LMG brokers fell 18% in July compared with the same month the previous year, as use of the aggregator's AI assistants reached record levels within its network.
More than 3,800 users across LMG's broker network accessed MyNoteWriter and MyQualityAssurance during the period — the first two tools released under the MyCRM Intelligence platform — with uptake continuing to grow week on week.
The tools have contributed to improvements in application quality, which LMG said has in turn reduced assessment time on the lender side and cut the time brokers spend preparing files. Some brokers have reported saving close to an hour per application. July also marked a 10% reduction in the aggregator's median lodgement-to-approval time for the preceding 12 months.
"More brokers are using MyCRM Intelligence and reporting faster time-to-lodgment, greater compliance confidence, and cleaner submissions that are driving higher first-time approval rates," said Whitney Cali (pictured right), chief product and technology officer at LMG.
"Removing the friction in the application process sets up a smoother experience for customers which is a critical starting point for long-term trust.
"In a shifting market, fostering strong customer relationships becomes more vital than ever. MyCRM Intelligence is designed to give brokers their time back, allowing them to nurture these connections and deliver maximum value to their clients."
MyNoteWriter generates lender rationales, product selection notes, and exit strategies in seconds, drawing on data already recorded in the broker's application. Each output is editable and structured to meet Best Interests Duty requirements. MyQualityAssurance checks each deal across more than 500 data points, identifying missing information, funding shortfalls, and product mismatches before lodgement, functioning as a compliance and training resource for broker businesses.
"We're saving 50 minutes, on average, on every application with MyCRM Intelligence," said Tania Richardson, operations manager at Loan Market Ellenbrook in WA. "We're using that saved time to focus on our back book by repricing and touching base with existing clients. This alone has generated leads for us — it's made a real impact on our business."
Sid Malhotra, a director at Loan Choice Australia in Queensland, said the platform supported his move from banking into broking. Over the past 12 months, his settled deals increased 49% year-on-year, and he has since expanded his team with an additional broker and two support staff.
"We still do our own checks, but the MyQualityAssurance tool takes it to another level," he said. "It's like having a safety net across the whole business, and it's saved us heaps of time on rework."
LMG said MyCRM Intelligence is built directly into its CRM platform, keeping all client data within MyCRM rather than relying on third-party services.
"MyNoteWriter and MyQualityAssurance tackle the pre-lodgment pain points in brokerages, but they're only the start of MyCRM Intelligence," Cali said. "We are actively expanding the MyCRM Intelligence suite with strategic AI-driven capabilities designed to further accelerate broker productivity and operational excellence in the coming months."
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